How do I recover money from real estate scams?

Real estate scams are wire fraud where you transfer the money to the scammers instead of the property seller. Fraudsters usually compromise the email of the real estate buyers with a guide to disbursement. It’s not the seller who is the fraudster, but there is a third party that intercepts the email. This article states some ways in which you can recover money from real estate scams.

The buyers disburse the payment to the scammer’s account following the fraud guide sent by email. There is a lack of

cybersecurity awareness in the real estate business, leading to real estate scams. Impostor, real estate emails make thousands of people lose billions of dollars daily. If you suspect someone is scamming you of your real estate payment, take immediate steps to retrieve funds.

These are some steps of recovery from real estate scams you can take immediately.

Push The Bank To help Recover Money from real estate scams

First, contact your bank and that of the recipients. Yes, you’d have to get in touch with both banks once you realize the scam. Next, request an account freezing over fraud to the recipient’s bank. You can formally request the bank to freeze the account even if you are not a customer. Ask your bank to help you with the notes.

There are two possibilities of the funds you’ve transferred to the fraudster’s account. If you act immediately, there are chances that the funds are still in that account. However, the fraudster may quickly move the funds to other accounts in other banks. If you’re experiencing the second scenario, you should follow the money and request a fraud freeze on other recipients’ accounts.

Get FBI

As the real investment scam real estate takes place online, it would be proper to call the FBI to file a complaint under Internet Crime Complaint Center(IC3). It’s a division that focuses on handling internet crimes, including real investment scams. You’d receive a complaint number over the fraud transactions you’ve experienced.

You may wonder why you’d have to go to the FBI instead of FCT or financial authority. It’s because scammers carry out real estate investment scams through the internet, and there’s a need to follow and recover the money. IC3-issued complaint number is significant for any Belize real estate scams victim. From now on, you can use the complaint number to process your report further.

Next, you’d need to contact the local FBI field office to proceed with your real estate scams in Florida reports. They will require the complaint number. You also need to request for assignment of agents with specialization in real estate investment scams. They’d require copies of all documentation and other evidence of the transactions. Ensure that you prepare all of them before filing your complaint. An FBI field officer would take care of your case.

Get A Legal Backup

After contacting the banks and filing a complaint to the FBI’s IC3, you’ve done great so far. Next, you need to get a legal backup by contacting a lawyer. It may be a family lawyer or one with experience in real estate scams. At this point, the lawyer may help you with the temporary restraining order. The order lists the banks that host fraudster’s accounts and receives your money.
This order aims to prevent these recipient banks from further transferring your money or stopping the fund’s movement. It also orders the banks to freeze the fraudsters’ accounts.

Follow Up Your Request to recover your money from real estate scams

Another critical tip during the real estate rental scams recovery process, you should be proactive. You need to follow up on your requests on fraud freezes and expand it following the money’s movement. Fraud freezes would stop fraudsters from transferring your funds any further. Each bank may have different policies on how long they would keep freezing the fraud accounts. And yes, fraudsters would typically use multiple accounts in other banks.
It’s you who should gather the relevant data about the movement of the money, including the bank names, account names, locations, e.t.c. It’s also essential to document and keep the log throughout the progress to support your report.

Filing A Police Report

In the final step, you’d need to file a police report over the real estate investment scams you’ve experienced. You can pass all documentation and information when you’re filing the report. Police will proceed with the case on the basis of the information you provide. That’s why we’ve suggested you compile all information and contacts so both the FBI and police can get through them effectively.

Again, the key to successfully recover your money from a real estate agent scams is time. Every second count, from when you suspect fraud. The more you wait, the lower chance you can trace your money and get it back to your account. The whole process does not take up to five hours after the realization. Generally speaking, contact the banks for fraud freezes should be done in the very first minutes. These would buy you time to structure your reports and do all of those follow-ups.

Verdict

As you might have seen above, recovering money from a real estate investment scam requires quick moves and persistence. As a victim of an investment scam, you’d have to be proactive on real estate news and do all steps with no hesitation. Following the money wouldn’t be easy as scammers may transfer it to multiple accounts within hours or even minutes. Requesting fraud freeze on fraud accounts and reporting to authorities should be done quickly.

Contact Professional Third – Party

Many recovery companies can help you if you choose not to pursue any of the means. These companies have certified ethical hackers that can help you recover lost or stolen funds from real estate scams, binary options scams e.t.c. AtriumForensics can provide these services. There are many testimonials from happy customers. Speak to an expert on the team immediately to help you with the recovery of your funds. Send a mail to info@heliumforensics.com.

Read Also: How to recover money from Binary Options scam.

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Financial Forensics and Forensic Investigation

A robbery occurred down the road that involved a huge loss of cash to a well known company. It was clear,the security personnel was caught unawares and this crippled all responses that was needed to stop the operation. It took a while before the cops arrived. When they did,they only met the sad faces of the victims. It was a well planned attack,the robbers took advantage of the not-so-good technological security system of the company.
After the incident,measures were taken to improve the company’s security system and guards were doubled up.”This new improvement will bring an end to robbers getting in and out without being caught.” Closed the MD’s speech the next week,Well atleast physically.But with cyber crime on the rise, it’s possible to by-pass all physical security system to carry out an operation via a telephone conversation, a computer and an internet connection.Cybercrime began in the early 70s. Crimes were committed via telephone lines. Phreakers as they were called imitated telephone tones to make free calls. Steve Jobs and Wozniak were phreakers.
Whilst telephone companies were the very first target, improvement in technology has brought banks,web-shops,investment platforms and even private individuals to this circle.Many has lost assets through cybercrimes,people have fallen victim of investment scams.

Aside the technique of distributed attack used in cyber crime through browser manipulation,Phone conversation works well for scammers to steal your money. This medium is done in a less Techy way,it only involves persuasion and empty promises of a huge return in a non-existing investment platform.Since what we want is money and even more money,we are most times at the mercies of these scammers. But with forensic services now available to tackle these digital crimes,scammers don’t always get away with the money.

Financial forensics or forensic investigators combines criminal investigation skills with financial auditing skills to identify criminal financial activity.
With this initiative,assets lost can be traced and recovered especially when handled by a skilled team of forensic investigators.